As the central bank of Singapore, the Monetary Authority
of Singapore (MAS) plays a big role in Singapore’s
financial sector. MAS Scholar Jeremy Hor recounts how
he came to contribute to this role.
Up until his first year of Junior College
(JC), MAS Undergraduate Scholar
Jeremy Hor was sure he would most
likely pursue a career in IT, thanks to his passion
for Computer Science. But the conversations
of his JC classmates around him triggered
a newfound interest in the financial sector.
Jeremy explains, “My classmates who studied
Economics were discussing topics like market
structure and how the Singapore economy
functions.
“I found myself very intrigued and curious
to find out more. At the same time, I took up
an introductory course which gave me fresh
insights into and the importance of the financial
industry! I was especially fascinated by the
wide array of financial instruments and how
these help investors achieve their investment
objectives.”
Today, Jeremy is the Assistant Director
of the Domestic Markets Management
Department at MAS and he tells us how the
MAS Undergraduate Scholarship journey has
brought him to where he is today.
What motivated you to apply for the MAS Undergraduate Scholarship?
Jeremy Hor: While considering my post-JC
path, I came across the MAS Undergraduate
Scholarship through scholarship fairs and
scholarship write-ups. This helped me gain
a greater appreciation for MAS and its role in
the financial sector. What really caught my
attention was MAS’ broad perspectives coupled
with its reputation for excellence.
Jeremy Hor Zhixiong
MAS Undergraduate Scholar
Designation:
Assistant Director
(Domestic Markets Management)
Studied:
Master of Science in Financial
Economics,
University of Oxford, UK
Bachelor of Arts in Computer
Science, Management Studies,
University of Cambridge, UK
In addition to that, taking up the MAS
Undergraduate Scholarship allowed me to
pursue both my interests (Computer Science
and Finance) and it presented me with a great
opportunity to gain exposure to the various
issues faced in the financial sector.
Share with us some highlights of your scholarship journey.
Jeremy: As part of the MAS scholarship
journey, we have a mandatory 8-week MAS
internship during our second year in university,
where we embark on a project with a specific
MAS department to gain valuable insights into
the organisation.
I interned with the Specialist Risk
Department, which supervises the financial
risk that Financial Institutions are exposed
to – market, liquidity and credit risks. My time
there gave me a good glimpse into the world of
banking regulation.
During my time with Cambridge, I also had
the privilege of being part of the Cambridge
University Malaysia and Singapore Association
(CUMSA). Notable alumni include many
of Singapore’s past and present leaders –
including former Minister Mentor Lee Kuan Yew,
Prime Minister Lee Hsien Loong and former
Foreign Minister George Yeo.
What are some of your key roles and responsibilities?
Jeremy: Together with my team, I am
currently responsible for the issuance of
Singapore Government Securities (SGS) on
behalf of the Singapore Government. As an
agent, we are accountable to the Ministry of
Finance for the SGS issuance programme and
advise the Government on the optimal issuance
level of SGS bonds to develop the Singapore
bond market. This year, we have been working
to introduce the Singapore Savings Bond, which
is a new type of government security for retail
investors.
My department is also responsible for the
key central banking functions of implementing
monetary policy, maintaining the stability
and functionality of foreign exchange (FX)
and money markets in Singapore, as well as
fostering the development of Singapore dollar
markets.
We also have regular contact with banks
to get 'market colour' (a heads-up on what is
driving activity in the market) to ensure that the
Singapore dollar markets are functioning well
and that Singapore’s economy is not disrupted.
What motivates me most about my job is
the impact of what we do. The impact of FX
and money markets affects a broad segment of
society and I am honoured to play a part to keep
Singapore’s economic engine running smoothly.
How has your scholarship journey developed you?
Jeremy: In addition to my internship, I’ve
been exposed to countless opportunities that
deepened my appreciation and understanding
of the financial markets – more than a purely
academic understanding ever could. While
studying at Cambridge, I was part of the
Cambridge Investment Club where I was
further equipped with knowledge and skills in
investment and portfolio management.
"The impact of FX
and money markets affects a broad segment of
society and I am honoured to play a part to keep
Singapore’s economic engine running smoothly."
In Oxford, my classmates and I decided
to get hands-on familiarity with the markets.
We pooled our pocket money and came up
with our own investment fund. This was a
golden opportunity to apply and expand my
skills and knowledge from the classroom into
actual financial markets, giving me a first-hand
experience of how certain investments behave
and contributing to a strong foundation for my
career at MAS today.
What advice would you give aspiring MAS Undergraduate Scholars?
Jeremy: Aspiring MAS scholars should be
aware that the scholarship interview process
is quite rigorous. It is critical to develop a
broad range of interests, keep a close eye on
financial sector conditions and issues and
most importantly, not be afraid of sharing your
original ideas – we need bold, well-considered
policies to bring Singapore’s financial sector
forward.
Do consider what you hope to achieve in
the long term, beyond your immediate studies.
If you are keen to play a part in shaping
Singapore’s financial sector, then by all means
apply for the MAS Undergraduate Scholarship!